Halliburton Company (NYSE:HAL) Position Increased by Entropy Technologies LP

Key Points

• Entropy Technologies LP increased its holdings in Halliburton Company by 42.8% in Q1, owning 156,755 shares worth approximately $3.98 million.
• Institutional investors hold 85.23% of Halliburton's stock, with notable increases in stakes from firms like Charles Schwab Investment Management and Sanders Capital.
• Halliburton reported a net margin of 8.37% for the last quarter, with revenue down 5.5% year-over-year, meeting EPS estimates at $0.55.

Entropy Technologies LP lifted its holdings in shares of Halliburton Company (NYSE:HAL - Free Report) by 42.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 156,755 shares of the oilfield services company's stock after acquiring an additional 46,957 shares during the quarter. Entropy Technologies LP's holdings in Halliburton were worth $3,977,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Federated Hermes Inc. raised its stake in shares of Halliburton by 297.9% in the 4th quarter. Federated Hermes Inc. now owns 13,247 shares of the oilfield services company's stock valued at $360,000 after purchasing an additional 9,918 shares in the last quarter. Bank of Montreal Can raised its position in shares of Halliburton by 6.3% during the 4th quarter. Bank of Montreal Can now owns 959,324 shares of the oilfield services company's stock worth $26,084,000 after purchasing an additional 57,116 shares during the period. Bank of Nova Scotia raised its position in shares of Halliburton by 56.0% during the 4th quarter. Bank of Nova Scotia now owns 176,371 shares of the oilfield services company's stock worth $4,796,000 after purchasing an additional 63,279 shares during the period. Scotia Capital Inc. raised its position in shares of Halliburton by 13.6% during the 4th quarter. Scotia Capital Inc. now owns 14,859 shares of the oilfield services company's stock worth $404,000 after purchasing an additional 1,781 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in shares of Halliburton by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 387,715 shares of the oilfield services company's stock worth $10,542,000 after purchasing an additional 2,440 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HAL has been the subject of several analyst reports. UBS Group reduced their price target on shares of Halliburton from $21.00 to $20.00 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Citigroup reduced their price target on shares of Halliburton from $33.00 to $31.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Piper Sandler downgraded shares of Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price target for the company. in a report on Monday, July 28th. Royal Bank Of Canada reduced their price target on shares of Halliburton from $28.00 to $24.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Finally, Morgan Stanley reduced their price target on shares of Halliburton from $34.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.

Halliburton Trading Up 0.9%

HAL traded up $0.19 during trading on Wednesday, reaching $21.16. The company had a trading volume of 9,058,379 shares, compared to its average volume of 13,848,644. The firm's 50-day simple moving average is $21.61 and its 200 day simple moving average is $22.64. The company has a market cap of $18.04 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 3.55 and a beta of 1.12. Halliburton Company has a 12-month low of $18.72 and a 12-month high of $32.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00.

Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. The firm had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.43 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%. Halliburton's quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 earnings per share. Equities research analysts anticipate that Halliburton Company will post 2.64 earnings per share for the current year.

Halliburton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, June 4th. Halliburton's payout ratio is presently 31.78%.

Halliburton Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.